UK's Rathbone Brothers says in merger talks with Smith & Williamson

LONDON, Aug 19 (Reuters) - British wealth manager Rathbone Brothers said on Saturday it was in exclusive talks with UK-based financial services provider Smith & Williamson over a possible all share merger.

“Whilst these discussions have been underway for some time and the boards of both Rathbones and Smith & Williamson are confident that the combination would bring meaningful benefits for the stakeholders of both businesses, discussions are ongoing and there can be no certainty any transaction will be agreed,” Rathbone said in a statement.

“However, if agreed, any such transaction will be subject to the approval of shareholders.” (Reporting by Michael Holden; Editing by Toby Chopra)